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Dream Finders Homes, Inc. key statistics and ratios

In fiscal 2025, Dream Finders Homes, Inc. had return on equity of 16.3%, a net margin of 5.0% and debt equal to 112.7% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Gross margin13.8%15.1%16.3%18.6%19.7%———
Net margin5.3%7.0%6.3%7.8%7.9%7.5%5.0%3.5%
Free-cash-flow margin3.7%8.3%3.2%−1.0%9.9%−6.3%−2.9%−3.9%
Return on equity——30.2%50.2%37.7%30.9%16.3%10.3%
Return on assets—10.8%9.2%12.3%12.0%11.4%6.2%3.8%
Asset turnover—1.551.461.571.521.511.231.08
Debt to equity——0.8%0.2%0.0%103.3%112.7%126.9%
Effective tax rate0.0%0.0%16.9%23.0%23.9%22.2%23.5%24.3%
SG&A as % of revenue8.5%8.0%8.0%8.0%8.1%8.9%11.2%11.4%
Capital spending as % of revenue0.4%0.3%0.1%0.2%0.1%0.6%0.6%0.6%
Free cash flow ÷ net income70.3%118.8%51.3%−12.6%124.9%−84.1%−58.2%−110.3%
Dividends and buybacks ÷ free cash flow————0.0%———

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

0 of 4 checks passed · June 30, 2026
  • Short-term assets cover short-term liabilities The company doesn't report a short-term split. Not assessable.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $203m of cash against $1.8bn of debt.
  • Debt below 40% of shareholders' equity Debt is 127% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 1% to 127% over five years.
  • A year's operating cash flow covers at least 20% of debt −$138m of operating cash flow against $1.8bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Dream Finders Homes, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

44 /100

Weak moat

How hard Dream Finders Homes's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 15 / 20

    Net income has been a median 9.7% of total assets over 6 years.

  • Durability 8 / 20

    Net margin has been a median 7.1%; its worst year was 3.5%.

  • Cash conversion 3 / 20

    Free cash flow was positive in 2 of 6 years, at a median -1.2% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: DFH vs MHOCCS vs DFHDFH vs KBH

More: Homebuilding stocks compared, Consumer Discretionary sector, rankings of US companies

Figures from Dream Finders Homes, Inc.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Dream Finders Homes, Inc.